Renovations That Boost ROI

If you have the urge to remodel but don’t know where to begin, it’s best to start with areas that will get you the most bang for your buck.

When deciding what to renovate, you need to consider three things:

Functionality: Is your remodel going to improve the organization and functionality of your home, making it a better place to live?

Value: Is your remodel going to boost your home’s ROI and pay for itself later when it’s time to sell your house?

Personal Enjoyment: Is your remodel going to provide you with a cozier, trendier, and newer-looking home? Are you going to be able to appreciate your redesign?

Functionality and personal enjoyment vary largely from person to person, but the value of a remodel can be applied to most homes. So which types of remodels provide the highest ROI? Check out our list below.

#1: Attic Insulation

The area in your home responsible for the biggest amount of air loss is your attic. If your attic isn’t properly insulated, you could be costing yourself a fortune in heating and air conditioning bills.

Installing insulation into your attic can be done for under $1,500 and provides an ROI of about 108%. A properly insulated attic saves a typical household $780 every year.

#2: Stone Siding

Replacing your exterior with stone may be costly up front, but it’ll all be worthwhile when you decide to sell your home. Not only does stone look absolutely stunning, but it offers an incredible ROI.

A stone veneer is installed on the exterior of your home, making your house appear like it’s made entirely from stone. In 2015, a study from the Cost vs. Value Report found that manufactured stone veneers regain 92.2% of their initial cost. This makes stone a smart decision for homeowners.

#3: Replace Your Front Door

It may seem too simple to produce value, but switching out your front door is a great investment. Remodeling Magazine reported that replacing your front door with a steel one increases a home’s value tremendously. Plus, homeowners typically find that they regain about 85% of what they spent when they go to sell their home.

#4: Refine Your Cabinetry

Any kind of kitchen update will boost your home’s value, especially if you focus on the cabinets. If your cupboards are stained, worn, and scratched, giving them a spruce-up raises your home’s value and makes your kitchen look as good as new. Minor kitchen renovations tend to recoup 80% of their initial cost.

#5: Increase Footage

Refinishing areas of your home that have been overlooked is a great way to give yourself more space as well as boost your house’s value. Tackling the basement and transforming it into a living room or den can bring in a 61% increase your home’s value. The more functional space you add to your home, the better!

Other Top-Notch Renovations for a Great ROI:

Updating Appliances

Adding New Windows

Improving Landscaping

Updating Bathrooms

Installing a Garage Door

CONSIDERING A REMODEL?

If you have areas of your home that need renovating, the qualified team of experts at Eagle Construction are here to help!